Larry Ellison Appointed Executive Chairman and CTO of Oracle

Yesterday, Oracle announced that its board of directors has elected Larry Ellison - formerly CEO - to the position of Executive Chairman of Oracle's Board and appointed him the company's Chief Technology Officer. Oracle also announced that the function of CEO will be held by two senior executives.

Safra Catz will serve as CEO for manufacturing, finance, and legal functions while Mark Hurd will continue to oversee the sales, service and vertical industry global business units.

Read the full press release here

International news sites are abuzz with the story and focus on Mr. Ellison's 37-year long leadership from which he now steps down.

Larry Ellison, who turned 70 this year, announced: �Safra and Mark will now report to the Oracle Board rather than to me. All the other reporting relationships will remain unchanged. The three of us have been working well together for the last several years, and we plan to continue working together for the foreseeable future. Keeping this management team in place has always been a top priority of mine.�

have a nice day

@lex